Integrated Quantitative Investments LLC Invests $953,000 in McKesson Corporation $MCK

Integrated Quantitative Investments LLC bought a new position in shares of McKesson Corporation (NYSE:MCK) in the second quarter, HoldingsChannel reports. The fund bought 1,301 shares of the company’s stock, valued at approximately $953,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Acadian Asset Management LLC lifted its holdings in shares of McKesson by 22.0% in the 1st quarter. Acadian Asset Management LLC now owns 378,926 shares of the company’s stock valued at $254,979,000 after purchasing an additional 68,294 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in McKesson during the first quarter worth approximately $289,000. Archford Capital Strategies LLC lifted its stake in McKesson by 151.8% in the second quarter. Archford Capital Strategies LLC now owns 2,276 shares of the company’s stock valued at $1,668,000 after buying an additional 1,372 shares during the last quarter. Lynwood Price Capital Management LP boosted its holdings in shares of McKesson by 18.3% in the second quarter. Lynwood Price Capital Management LP now owns 25,800 shares of the company’s stock valued at $18,906,000 after acquiring an additional 4,000 shares during the period. Finally, LPL Financial LLC boosted its holdings in shares of McKesson by 12.8% in the first quarter. LPL Financial LLC now owns 155,946 shares of the company’s stock valued at $104,950,000 after acquiring an additional 17,750 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Brian S. Tyler sold 11,930 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the sale, the chief executive officer owned 4,012 shares of the company’s stock, valued at approximately $2,830,987.56. The trade was a 74.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $861.63, for a total transaction of $283,476.27. Following the transaction, the chief accounting officer owned 328 shares in the company, valued at $282,614.64. The trade was a 50.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.08% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on MCK. Cowen reiterated a “buy” rating on shares of McKesson in a research report on Wednesday, September 24th. Wells Fargo & Company upped their target price on shares of McKesson from $816.00 to $914.00 and gave the company an “equal weight” rating in a report on Monday, November 10th. Mizuho increased their target price on shares of McKesson from $750.00 to $770.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 24th. UBS Group boosted their price target on McKesson from $920.00 to $980.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Finally, Bank of America upped their price objective on McKesson from $800.00 to $850.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, McKesson currently has an average rating of “Moderate Buy” and an average target price of $887.69.

McKesson Trading Down 0.5%

Shares of MCK stock opened at $842.26 on Friday. The stock has a 50 day simple moving average of $773.51 and a 200-day simple moving average of $729.58. The company has a market cap of $103.96 billion, a price-to-earnings ratio of 33.58, a price-to-earnings-growth ratio of 1.46 and a beta of 0.51. McKesson Corporation has a 12-month low of $558.13 and a 12-month high of $867.63.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share for the quarter, beating analysts’ consensus estimates of $8.84 by $1.02. The firm had revenue of $103.15 billion for the quarter, compared to the consensus estimate of $103.80 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business earned $7.07 earnings per share. On average, equities analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, December 1st. McKesson’s dividend payout ratio (DPR) is currently 10.21%.

About McKesson

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.